Our Babson Reversal Line was hit today. And we have a double trouble pattern This typically occurs when a strong correction is starting
Things appeared to be setting up for at least a small correction, but after the last close it may take a while to give a signal.
In tradersworld magazine there will be an article about this technique, Typically the result is a correction of 5-25%.
Typically any strategy or concept shown in the Traders magazine is not worth the paper it´s printed on…
On the daily chart a correction is due but we could see an explosion to the upside first, are you saying a 5-25% move down can be predicted using an hourly chart?
Yes, a one hour chart.
Here is an article about how it works.
If chart trading were that easy there would be alot more billionaire traders out there. Also futures trading is a zero sum market which means that its based purely on supply and demand.
How’s that “Babson Reversal” working out for ya?
It appears to be working quite well!
So this momentary ES selling due to fears of Flynn fingering Trump is confirmation of a Babson Reversal at the 2620 level? I think even Roger Babson is rolling over in his grave on that one! (Market bouncing back and is back over 2632 as we speak)
Read the topic.
OP said the high on 11/28/2017 is the high for the year.
Was that right?
OP said the top on ES is 2620.It shot to 2658.5. Is that called “work quite well”?
I guess even it shot 100 points higher, someone would still come out to call it" work quite well", as long as it goes down later. There was no mention of stop. So even it goes down later, how do you profit from it? Do you have stop? Where do you set a stop?Or you don’t have any stop at all?Would you predict the top is 2620 and short from there, and then set the stop 30 points higher? Even a 30 points higher stop would be blown up because it was 38.5 points higher.
This thing is not for real trading, but for catching the eyeballs of newbies and laymen.
Try it on a C2 account and you will blow up your account fast.
I need to type 20 characters but LOL!
One day top pickers will get it right, and then they will bask in fame for years.
Until then they will keep adding fuel to bull market (that is, if they actually follow their own predictions)
hahahaha… yes… maybe the top will be tomorrow or the next day… or the next…